Franklin Resources Inc. Reduces Stock Holdings in H&R Block, Inc. (NYSE:HRB)

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. decreased its holdings in H&R Block, Inc. (NYSE:HRB – Get Rating) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,182 shares of the company’s stock after selling 2,785 shares during the quarter. Franklin Resources Inc. owned about 0.15% of H&R Block worth $8,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HRB. Quadrant Capital Group LLC raised its holdings in H&R Block by 56.8% in the third quarter. Quadrant Capital Group LLC now owns 955 shares of the company’s stock worth $41,000 after purchasing an additional 346 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in H&R Block by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 42,239 shares of the company’s stock worth $1,797,000 after purchasing an additional 369 shares in the last quarter. Range Financial Group LLC raised its holdings in H&R Block by 1.9% in the fourth quarter. Range Financial Group LLC now owns 21,303 shares of the company’s stock worth $778,000 after purchasing an additional 398 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in H&R Block by 1.2% in the fourth quarter. Convergence Investment Partners LLC now owns 36,032 shares of the company’s stock worth $1,316,000 after purchasing an additional 412 shares in the last quarter. Finally, Mariner LLC raised its holdings in H&R Block by 2.3% in the first quarter. Mariner LLC now owns 22,632 shares of the company’s stock worth $589,000 after purchasing an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity

In related news, Director Richard A. Johnson bought 10,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were purchased at an average price of $29.54 per share, with a total value of $295,400.00. Following the transaction, the director now owns 68,729 shares in the company, valued at approximately $2,030,254.66. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barrington Research decreased their price objective on H&R Block from $48.00 to $42.00 in a report on Wednesday, May 10th. StockNews.com downgraded H&R Block from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Finally, The Goldman Sachs Group raised their price target on H&R Block from $25.00 to $28.00 and gave the company a “sell” rating in a report on Wednesday, February 8th.

H&R Block Trading Up 0.3 %

Shares of HRB opened at $29.94 on Friday. The business’s 50 day moving average is $32.62 and its 200 day moving average is $36.56. The company has a market capitalization of $4.56 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.65 and a beta of 0.67. H&R Block, Inc. has a 12-month low of $28.83 and a 12-month high of $48.76.

H&R Block (NYSE:HRB – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $4.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.46 by ($0.26). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. H&R Block had a net margin of 13.59% and a negative return on equity of 284.65%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $4.11 EPS. Equities research analysts predict that H&R Block, Inc. will post 3.72 earnings per share for the current year.

H&R Block Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, June 6th. H&R Block’s dividend payout ratio is currently 39.06%.

H&R Block Company Profile

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H&R Block, Inc engages in the provision of tax preparation and other services. The firm offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees. It also develops and markets DIY income tax preparation software online, as well as through third-party retail stores and direct mail, and provides DIY tax services, including federal and state income tax returns, access to tax tips, advice, and tax-related news, use of calculators for tax planning, and error checking and electronic filing.